What does NIEO demand?

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Bretton woods system

G-77 countries

Axis nations

None of the above

answer is B.

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Detailed Solution

G-77 countries demanded NIEO.
The Bretton Woods System, established in 1944, was dominated by western nations. It helped in the fast growth of the western nation. On the other hand, the developing nations were left behind. So, the developing nations organised themselves into the group of 77 nations, commonly called G-77 nations. They demanded a New International Economic Order (NIEO) that focused on the developments of G-77 nations. They concentrated on real control over the resources; fair prices of the raw materials for the production process with developmental assistance. This would provide better access for the manufactured goods of these nations in the developed countries.

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